B. Riley Starts EVINE Live Inc. (EVLV) at Buy

October 18, 2016 6:25 AM EDT
Get Alerts EVLV Hot Sheet
Price: $1.17 +2.63%

Rating Summary:
    1 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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B. Riley initiates coverage on EVINE Live Inc. (NASDAQ: EVLV) with a Buy rating and a price target of $3.50.

Analyst Eric Wold highlighted:

  • New activist-influenced management team and Board has been in place since 2014
  • Rolling out high-incremental margin second channels to exiting cable households
  • Projecting strong EBITDA ramp from $17MM in 2016 to $34MM in 2018
  • Set to unlock value of Boston TV station with inclusion in FCC spectrum auction
  • PT of $3.50 based on SOTP of 10x 2017 EBITDA estimate + low-end Boston station value

For an analyst ratings summary and ratings history on EVINE Live Inc. click here. For more ratings news on EVINE Live Inc. click here.

Shares of EVINE Live Inc. closed at $2.00 yesterday.

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